Traverse City, MI Housing Market
Market data powered by Zillow Research. Last updated: 2026-04-02
Traverse City, MI offers balanced conditions for buyers.
- •Prices are essentially flat (1.6% YoY) — good negotiating leverage for buyers.
- •Price-to-rent ratio: 16.9 — buying and renting are roughly comparable.
Median Home Value
$399,664
ZHVI
Year-over-Year
+1.6%
Price change
5-Year Change
+43.9%
Since 2021
Median Rent
$1,974/mo
ZORI
Active Listings
571
For sale
State Avg
$254,230
Michigan
Home Value Trends
5-year Zillow Home Value Index for Traverse City, MI vs. state and national averages.
Rent Data
Median Rent
$1,974/mo
Rent YoY Change
+9.2%
Other Markets in Michigan
Market data provided by Zillow Research. Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) are trademarks of Zillow, Inc.